LONG with a potential 1:6 Risk:Reward with Bias
We got another LONG opportunity right here as price may form a potential bullish pattern either the bull butterfly or the bull bat pattern. Take note that on the overview we got also a potential Bearish Bat Pattern that will complete around 1.39997 near to 1.40 which is a good psychological number.
Taking long on completions we want our stops below the redline, we all know that the potential bear bat pattern setup will be invalidated once price break its a point and its our red line hence stopping us out on the LONG trade.
Stops below redline.
TP1: 1.3806
TP2: 1.3843
with extended TP on a potential bearish pattern or so. As long we hit our TP 1 or so we could roll our stops to BE for a risk free trade.
Enjoy and trade with care!
Taking long on completions we want our stops below the redline, we all know that the potential bear bat pattern setup will be invalidated once price break its a point and its our red line hence stopping us out on the LONG trade.
Stops below redline.
TP1: 1.3806
TP2: 1.3843
with extended TP on a potential bearish pattern or so. As long we hit our TP 1 or so we could roll our stops to BE for a risk free trade.
Enjoy and trade with care!
Comment:
Bull Pattern setups are now completed.
Comment:
1.3723 is the price we don't want market to break.
Comment:
Price is inside the zone completion of the Bull Butterfly Pattern. We also see a bullish divergence here.
Trade closed: stop reached:
Prior from the news, we got stopped out here if you have taken the bull setups. Good trade.
